Aerial photo taken on Sept. 11, 2020 shows the city view of Shenzhen, in south China's Guangdong Province. (Xinhua/Mao Siqian)
BEIJING, Jan. 10 (Xinhua) -- Chinese manufacturer in stand-by lighting and electrical appliances KENNEDE Electronics MFG. Co., Ltd. (002723.SZ) announced on Jan. 7 that it has inked a strategic cooperation agreement with Boulder (Shenzhen) Technologies, Inc., a manufacturer of e-cigarettes, and was authorized to sell Boulder e-cigarette products exclusively in the Belt and Road (B&R) countries, reported China Securities Journal.
The strategic partnership involves brand agency and distribution as well as research, development and production. The agreement requires KENNEDE to realize a gross merchandise volume (GMV) of the granted products of no less than 10 million U.S.dollars (or 63 million yuan) in the B&R countries before the authorization get expired.
KENNEDE had announced in November 2021 that its wholly-owned subsidiary Shenzhen Yunhai Venture Capital Co., Ltd. took about 2.5840 percent of the equity of Boulder (Shenzhen) Technologies, Inc.. The signing of the strategic agreement marks a closer partnership between the two sides.
KENNEDE has a long-term layout in B&R countries and owns multiple channels of product display and sales. Its small household electrical appliances have enjoyed high sales in the B&R markets. The exclusive sales agency of Boulder products in the B&R countries and the GMV goal stem from its positive outlook for the market potential of the B&R countries.
The cooperation is expected to be further advanced. According to KENNEDE, the two sides will jointly carry out innovative research and development (R&D), upgrade technologies and manufacture products based on the consumption customs in the B&R countries. The new products or upgraded products can be sold under the joint brand of the two companies.
In addition to broadening sales channels, KENNEDE is also enriching small household appliances so as to increase presence in the B&R countries.
In recent years, KENNEDE has been engaging in health technology and medical cosmetic equipment, and formed a series of product matrices, such as spare lighting products, air temperature regulators, mosquito repellent products, and creative kitchen appliances, keeping a close track of the emerging demands in the B&R markets.
(Edited by Tong Ting, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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